Airtel Q4 Net Profit Tumbles 78 Per Cent to Rs 83 Crore

Lloyd Doyle
April 24, 2018

The company posted net profit of Rs 83 crore for the Q4 of 2017-18 compared to Rs 373 crore posted during the corresponding period a year ago. Bharti Airtel's overall customer base now stands at 413.8 million across 16 countries.

The main achievement of Airtel India CEO Gopal Vittal and Airtel Africa CEO Raghunath Mandava was the 9.2 percent reduction in total Opex on the back of strong cost efficiencies in Indian and African telecom markets.

On quarterly basis, the firm reported revenues of Rs 3662 crore for the period 31 March, 2018, an increase of 4% than the previous quarter when it reported frevenues of Rs 3520 crore.

The matter with Airtel seems gloomy as its revenues and net profits have some component of Bharti Infratel's revenues and net profits. In the previous quarter, it had reported a profit of Rs 306 crore, implying a dip of 72 per cent.

"Due to loss of 22,134 co-locations during the year on account of five operators ceasing to continue either on account of shutting down operations or merging with others, the financial results for the quarter showed lower growth rates", the company said in a statement. Consolidated EBIT dropped by 29.0% Y-o-Y to Rs 2,106 crore. Currently, Bharti Infratel and Vodafone India own 42 per cent each in Indus; the remaining stake belongs to Idea. Capex in Q4 fiscal 2018 was INR 6,282 crore vs INR 3,808 crore in Q4 fiscal 2017.

Revenue slipped 10.48 per cent year-on-year to Rs 19,634.30 crore during the quarter under review.

Commenting on this network expansion, Mr. KC Narendran, Chief Executive Officer - Gujarat, Bharti Airtel Ltd, said, "As India's leading smartphone network, we have committed ourselves towards the availability of best-in-class mobile broadband experience to our users in the ever-buzzing state of Gujarat". Also, dividend of Rs 14 per equity share for the year ended March 2018 was recommended by the Board of Directors in its meeting held earlier in the day. Data traffic grew 88 per cent, voice minutes increased by 37 per cent.

Other reports by Iphone Fresh

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